Morepen Labs to strengthen anti-allergy portfolio, supply Allegra generic to US market

Morepen Laboratories is in focus. The stock has performed quite well on a year-to-date basis and is up around 70 odd percent. Sushil Suri, MD of Morepen Labs said the company would be -strengthening its anti-allergy portfolio.

The company will supply Allegra generic to the US market and since it is a generic drug, they can start exporting it, said Suri, adding that they have got approval as a second source. Currently, they are waiting for validation approval. This will be the fifth approval for the US market, four of which are anti-allergy drugs, he said.

“Whatever little capacities we have now those will be doubled up and the US market exports would start,” he specified in an interview with CNBC-TV18. He said the company has seen a 36 percent growth in medical devices in Q2 due to people undertaking home testing. On the lookout for a private equity investor in medical devices, said Suri.

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CLSA downgrades Maruti to ‘sell’, says lack of launches in SUV segment hurting market share

CLSA has downgraded Maruti Suzuki India to sell from underperform with a target price of Rs 6,420. The stock was marginally under pressure. The big fear in the market is that Maruti is unable to compete with its peers in the high-growth SUV space and is losing market share in that segment. Lack of launches is hurting their market share.

As per CLSA, there could be a downgrade in volumes and margins for FY23-24. However, margin recovery is on the cards because the worst of raw material issues are behind us but could be below consensus.

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Zee-Sony deal likely by Christmas: Reports

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This most awaited mega-media deal is in the final stages. Zee Entertainment Enterprises Ltd (ZEEL) and Sony Pictures India are set to sign a binding merger agreement before Christmas within the pre-agreed 90 day time period, as per reports.

The agreement will seek to address some of the issues raised by Invesco regarding promoters holding in the merged entity. Invesco is the single largest shareholder in Zee for the 17.8 percent stake that has taken the company to the courts, over management control and other issues.

As per CLSA, rising ad-spends and a potential merger with Sony is a rerating scenario. It has Rs 415 as the target price on 18 times price to earnings and the merger with Sony could rerate Zee stock to 30 times price to earnings, but if the deal is put off then the valuation could fall to Rs 250.

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Young Turks: Rural India going online faster than urban, focus on building platforms to bolster this growth

By 2025, there will more internet users in rural India than in urban India, according to an IAMAI-Kantar report and even though internet penetration in urban India is twice that of rural areas, the usership in rural regions is growing at a faster rate on a year-on-year basis. It is quite clear that India’s digital ecosystem will need to evolve to address the specific needs of this emerging market and regional language, voice plus video will be the preferred interface for this new digital ecosystem or the next 600 million internet users in India.

Many startups have already identified the gaps and recognized the opportunities as they build platforms that are simplifying lives in rural India, in tier 2,3 towns, and beyond as they unlock the potential of this large user base. The spotlight is on three high-velocity verticals where new-age businesses are building for Bharat as they disrupt the status quo – social-commerce or community-based e-commerce, education for mobile-first regional language internet users and last-mile public transportation.

To discuss this CNBC-TV18 caught up with Mohit Dubey, co-founder and CEO, Chalo, Angad Kikla, co-founder, Citymall and Karanvir Singh, founder and CEO, Pariksha.

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Sense and Sustainability: Experts discuss tackling climate change

COP 26 ended with a plea to all nations to accelerate efforts in order to keep global warming under 1.5 degrees Celsius. India pledged to achieve net zero emissions by 2017. Combating deforestation, phasing down on coal, increasing financial support for developing countries were among the successes of COP 26. But lack of commitments by certain nations towards reducing emissions was a disappointment.

With focus on climate action, CNBC-TV18 has a new campaign ‘Sense and Sustainability’. The channel caught up two eminent personalities – Mridula Ramesh, Climate Entrepreneur & Investor, and Ashwani Bhatia, Managing Director, SBI. Mridula Ramesh has personally invested in about 15 startups that are climate-related. Ramesh spoke about her new book Watershed, which lays out how India’s business landscape will be transformed by water and why water is the next great startup opportunity.

Meanwhile, Bhatia shared his views on sustainable development goals in the banking sector and how large public sector banks can help India in cutting down on emissions and accelerate the transition to renewable energy, electric vehicles and achieving net-zero emissions.

IPOs galore, Dalal Street set to end 2021 with issues worth Rs 1.25 lakh crore

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It has been a fabulous year for equities and more so for the primary market. To discuss what the IPO pipeline looks like going forward, CNBC-TV18 caught up with Pranav Haldea, MD, Prime Database, and Sanjiv Bhasin, Director of IIFL Securities.

Haldea said the IPO pipeline is very strong and companies across the sector are coming to tap the primary market. As far as CY21 is concerned, we are already over Rs 1,10,000 crores and there are several issues that are lined up in December as well. So, expect to end the year closer to Rs 1,25,000 crores apart.

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There are about 36 companies, which are holding Sebi approval and another 36 companies have filed with Sebi for approval and they are cumulatively looking to raise over Rs 1 lakh crore. However, this does not even include the mega LIC IPO which is expected in the current financial year.

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PB Fintech likely to bid for Start Health IPO under QIB category: Sources

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PB FinTech which owns brands like policybazaar, paisabazaar and got listed just a couple of weeks back is set to bid for shares of Star Health and Allied Insurance Company under the Qualified institutional buyer (QIB) category, say sources to CNBC-TV18.

The QIB category is 53 percent of the total issue size, which makes it about Rs 3840 crore. The QIB section has been subscribed about 28 percent so far. PB FinTech is in the business of aggregation of insurance products and is trying to invest in a company that sells insurance products.

The issue size of Star Health Insurance is large and it is the last day of subscription for the Rs 7250 crore IPO. Although the issue size is impressive, the subscription is not. Overall, the issue has been subscribed to just about 37 percent so far.

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No impact of new COVID variant on business as yet: Caplin Point

Vivek Siddharth, COO, Caplin Point Labs said so far they haven’t seen any impact of the new COVID19 variant on the business and in most of the markets they operate in, things are back to normal. He further said they would look at passing on higher costs with regards to freight etc to the customers.

Talking about their US business, he said it is already a subsidiary of Caplin, we own about 75 percent and another 25 percent is through our investment partners Fidelity. So all options are on the table at this point.

“We remain extremely bullish on the US business. What we are going to do with it say five-six years down the line – it could be a buyback, it could be an IPO but it all depends on how the business is doing at that point in, in coordination with what the overall market opportunities look like,”said Siddharth.

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Bharti Airtel in early talks to acquire majority stake in Dish TV: Report

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Bharti Airtel is in early talks to acquire a majority stake in Dish TV. The plan of action by a Mint report is that first Bharti Airtel wants to acquire the Dish TV promoter stake of 5.9 percent, which is held by the Subhash Chandra family.

So far, while Bharti Airtel has reached out to the promoters of Dish TV, the Chandra family has not agreed to sell their stake. Once they get the promoter stake on board, then Bharti Airtel wants to acquire the stake held by Yes Bank, which is about 25.6 percent stake.

Once Yes Bank also agrees to sell then they will have the promoter stake of 5.9 percent and Yes Bank stake of 25.6 percent stake then Bharti Airtel will reach out to the other shareholders and eventually sit with a market share of close to about 51 percent. However, this is a very complex deal.

Dish TV, however, has denied reports saying it is not aware of any such deal with Bharti Airtel.

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Disbursals back to pre-COVID levels: CreditAccess Grameen

CreditAccess Grameen saw robust disbursals in quarter two. Udaya Kumar Hebbar, the managing director & CEO of the company said the pent-up demand for business expansions, purchase of new materials, business renewal is good.

He said they have opened about 142 branches in the first four months, which has helped in higher customer acquisition. They have managed to acquire 2 lakh customers in the last four months, said Hebbar in an interview with CNBC-TV18.

Disbursals for the company are more or equal to pre-COVID levels, said Hebbar, adding that the ticket size has not changed.

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